Bitcoin & Penny stocks? Did we open the flood gates to informal traders?

[Kakmakr]

Most people are buying very small amounts of bitcoin as an investment. A lot of people are not familiar with Stock markets and they just dump their savings into fixed deposit savings accounts. Why do you think people are more reluctant to trade in Penny stocks, but they risk buying bitcoins?

I have spoken to some of my friends and they say there are less barrier to entry into Bitcoin trading than any other trading methods. How many average people are trading Fiat currencies at their home, compared to people trading Crypto currencies? 

If you were a informal trader before you were introduced to Bitcoin, please mention that in your comment. I just want to see how many people are virgin traders, when they entered Bitcoin.

Did we, without even thinking about it, open up the global trading arena to the general public, with the introduction of Bitcoin?

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[player514]

Most people are buying very small amounts of bitcoin as an investment. A lot of people are not familiar with Stock markets and they just dump their savings into fixed deposit savings accounts. Why do you think people are more reluctant to trade in Penny stocks, but they risk buying bitcoins?

I have spoken to some of my friends and they say there are less barrier to entry into Bitcoin trading than any other trading methods. How many average people are trading Fiat currencies at their home, compared to people trading Crypto currencies? 

If you were a informal trader before you were introduced to Bitcoin, please mention that in your comment. I just want to see how many people are virgin traders, when they entered Bitcoin.

Did we, without even thinking about it, open up the global trading arena to the general public, with the introduction of Bitcoin?

I think there's a certain stigma around penny stocks that comes from the more prominent investors. Those who invest long term, actually research into the stocks that they put their money into, and in general who want to find the safe way to increase their money end up shunning shorting traders. They see it as a gamble, like a get-rich-quick. I assume that most of them have a similar mindset about Bitcoin.

I didn't trade much before bitcoin, but I also haven't looked at bitcoin as a major trading asset. I look at it more like a currency.

Yes, with cryptocurrency we introduced a new market for people to put their money into. However, many people don't know enough about what they get into with crypto, and that's the major issue.

[pooya87]

altcoins are more like Penny Stocks instead of bitcoin.

i was not a trader before coming in bitcoin. and i didn't start with bitcoin to become a trader.

before bitcoin i was considering investing some money in Stocks market but the process was long and it needed a moderately large amount of money to enter. i had to sign up with some brokers and give a lot of documents and put a lot of money in, so i never did it.
i started with bitcoin because i liked the idea of a decentralized money that nobody can control and i could freely use it. then the profit part became obvious and i started investing too. then eventually to increase my "bitcoin wealth" i started trading. and because entrance was easy, i started right away.

i actually remember trading with 1-100 Doge coin on Cex.io back in 2014 which was worth 70 satoshi per Doge. and it was a great experience  because cex didn't have any minimal trading volume back then so i wasn't even risking anything. i was buying 100 doge at 68 satoshi for example and selling it at 70 satoshi and sometimes at 65 satoshi and gained some experience like that.

[Kakmakr]

altcoins are more like Penny Stocks instead of bitcoin.

i was not a trader before coming in bitcoin. and i didn't start with bitcoin to become a trader.

before bitcoin i was considering investing some money in Stocks market but the process was long and it needed a moderately large amount of money to enter. i had to sign up with some brokers and give a lot of documents and put a lot of money in, so i never did it.
i started with bitcoin because i liked the idea of a decentralized money that nobody can control and i could freely use it. then the profit part became obvious and i started investing too. then eventually to increase my "bitcoin wealth" i started trading. and because entrance was easy, i started right away.

i actually remember trading with 1-100 Doge coin on Cex.io back in 2014 which was worth 70 satoshi per Doge. and it was a great experience  because cex didn't have any minimal trading volume back then so i wasn't even risking anything. i was buying 100 doge at 68 satoshi for example and selling it at 70 satoshi and sometimes at 65 satoshi and gained some experience like that.

This is exactly what I wanted. The stock market has a legal minimum capital requirement to day trade, but there is also a recommended minimum which may vary by trading style. Things like this, place a barrier to entry for a lot of "newbie" traders. Bitcoin has removed these barriers and allowed everyone to participate in this practice. <regulated or not>

I had to laugh at this,  https://www.wikihow.com/Trade-Stocks

Step 1 : Consider getting a broker. The easiest way to trade stocks will be to pay someone else to trade stocks.

When you Google, "How to trade Penny Stocks", you get this response : " Leave shorting penny stocks to the pros. "

I know in some religions, only the Priests were allowed to read the scriptures and average people were not allowed to read and interpret these books. I think many professional traders wants to exclude the average Joe from their trade, because they want exclusivity and also a additional source of income, by placing barrier to entry to these markets and charging people for their knowledge.

Bitcoin has opened up trading for the Average Joe. <Good or Bad, but the public has easy access without these barriers to Bitcoin and Alt coin trading.>